Bio-polylactic Acid (PLA) Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Bio-polylactic Acid (PLA) Market is Segmented by Raw Material (Corn, Cassava, Sugarcane and Sugar Beet, and Other Raw Materials), Form (Fiber, Films and Sheets, Coatings, Other Forms), End-user Industry (Packaging, Medical, Electronics, Agriculture, Textile, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, Middle-East and Africa). The report offers the market size and forecast in revenue (in USD million) for all the above segments.

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Bio-polylactic Acid (PLA) Market Size

Bio-polylactic Acid (PLA) Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: < 15 %

Major Players

Bio-polylactic Acid (PLA) Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Bio-polylactic Acid (PLA) Market Analysis

The market for bio-polylactic acid is expected to register a CAGR of less than 15% during the forecast period (2022-2027).

Due to the COVID-19 outbreak, nationwide lockdown around the globe, disruption in manufacturing activities and supply chains, production halts and labor unavailability negatively impacted the market. However, the conditions started recovering in 2021, thereby restoring the growth trajectory of the market studied during the forecast period.

  • The primary factor driving the market's growth is favorable government policies toward bio-plastics.
  • On the flip side, the high cost of PLA is expected to hinder the development of the market studied.
  • The growing production of genetically modified corn and the increasing usage of bio-PLA in 3D printing are likely to act as opportunities in the future.
  • Asia-Pacific dominated the market worldwide, with the most significant consumption from countries like China and Japan.

Bio-polylactic Acid (PLA) Industry Segmentation

Bio-Polylactic acid (PLA) is a biodegradable and bio-based aliphatic polyester that can be manufactured from renewable materials such as corn, sugarcane, cassava, and sugar beet pulp. This gives bio-PLA manufacturing a lower carbon footprint in comparison to fossil-based plastics. The bio-polylactic acid market is segmented by raw material, form, end-user industry, and geography. On the basis of raw materials, the market is segmented into corn, cassava, sugarcane and sugar beet, and other raw materials. Based on the form, the market is segmented into fiber, films and sheets, coatings, and other forms. Based on the end-user industry, the market is segmented into packaging, medical, electronics, agriculture, textile, and other end-user industries. The report also covers the market size and forecasts for the market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (in USD million).

By Raw Material
Corn
Cassava
Sugarcane and Sugar Beet
Other Raw Materials(molasses, potato, wheat)
By Form
Fiber
Films and Sheets
Coatings
Other Forms
By End-user Industry
Packaging
Medical
Electronics
Agriculture
Textiles
Other End-user Industries(construction, consumer goods)
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
CIS region
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Bio-polylactic Acid (PLA) Market Trends

This section covers the major market trends shaping the Bio-polylactic Acid (PLA) Market according to our research experts:

The Packaging Segment is Expected to Dominate the Market

  • The packaging industry is one of the largest consumers of bio-PLA. Packaging accounted for a little over 68% of the bio-PLA market in 2021 in terms of revenue. Moreover, concerns about hygiene and food safety in the context of the pandemic have become a higher priority globally.
  • As per the Indian Institute of Packaging, the packaging consumption in India has increased by 200% in the past decade, rising from 4.3 to 8.6 kg per person per year. Nonetheless, China dominates the sector and is the largest manufacturer and exporter of packaging materials and products globally.
  • The demand is expected to increase for dietary supplements, such as vitamins, and essential supplies, such as allergy medication. Moreover, environmental and climate change concerns are driving countries worldwide to choose biodegradable packaging materials.
  • Bio-PLA is primarily used in fruit and vegetable packaging in supermarkets and for bread bags and bakery boxes, bottles, envelopes, display carton windows, and shopping or carrier bags.
  • The restaurant chains and food processing industries are increasingly adopting biodegradable materials for food packaging. People are also becoming more aware of how safe food is, since some plastics are known to cause cancer.
  • The post-lockdown numbers indicate a systemic shift in consumer purchasing preferences from offline to online. Customers around the world are getting more and more used to shopping online, which is expected to increase demand in the PLA market over the next few years.
Bio-polylactic Acid (PLA) Market : Revenue CAGR (%), by End-user Industry, Global, 2022-2027

China is Expected to Dominate the Market in Asia-Pacific

  • China is the largest economy in the Asia-Pacific region and has one of the largest manufacturing and production bases in the world.
  • In the country, the packaging industry is witnessing tremendous growth due to the plastic ban and shift toward sustainable and biodegradable packaging. Thus, it is expected to drive the market during the period.
  • Furthermore, the Chinese food processing industry is moving toward maturity and experiencing moderate growth. Processed and packaged frozen food products are increasingly popular, especially dairy, baby food, and confectionery products, which is a driver for the food processing industry.
  • According to the National Bureau of Statistics of China, in 2021, the food industry in China generated a total profit of about 618 billion yuan (USD 88.5 billion). The food manufacturing industry contributed approximately 179.1 billion yuan (USD 26.6 billion) to the total profits.
  • China is the largest textile-producing and exporting country in the world. The textile industry of China grew steadily in 2021, with collective profits of 267.7 billion yuan (USD 38.20 billion), a 25.4 percent increase year-on-year (YoY), according to the Ministry of Industry and Information Technology (MIIT).
  • In 2021, the health expenditure was approximately CNY 7.2 trillion, accounting for 7.1% of the country’s GDP. The medical and therapeutical market in China has witnessed strong growth due to a growing number of hospitals and the increasing demand for medical assistance. Thus, advancements in medical applications are expected to drive the market during the forecast period.
  • Furthermore, according to ZVEI Dia Elektroindustrie, China's electronics industry will be worth approximately EUR 2,500 billion (USD 2635 billion) in 2021, accounting for more than 50% of global production, and is expected to grow at 14% and 8% Y-o-Y in 2022 and 2023, respectively.

So, the bio-polylactic acid market in Asia-Pacific is likely to be led by China over the next few years.

Bio-polylactic Acid (PLA) Market : Growth Rate by Region 2022-2027

Bio-polylactic Acid (PLA) Industry Overview

The bio-polylactic acid market is highly consolidated, and the four major players have a share of around 86% market in terms of production capacity. The major players of the market studied (not in any particular order) include NatureWorks LLC, Zhejiang Hisun Biomaterials Co. Ltd, Sulzer Ltd, Total Corbion PLA and Futerro, among others.

Bio-polylactic Acid (PLA) Market Leaders

  1. NatureWorks LLC

  2. Sulzer Ltd

  3. Total Corbion PLA

  4. Futerro

  5. Zhejiang Hisun Biomaterials Co. Ltd

*Disclaimer: Major Players sorted in no particular order

Bio-Polylactic acid (PLA) Market - Market Concentration.png

Bio-polylactic Acid (PLA) Market News

  • June 2022: NatureWoks LLC began construction of its new PLA biopolymer manufacturing facility in Thailand. This facility would have an annual capacity of 75,000 tons.
  • January 2021: Sulzer Chemtech gained a contract to supply lactide production equipment to a project at Zhejiang Depei New Material Co.’s latest plant in Ningbo, Zhejiang Province, China.

Bio-polylactic Acid (PLA) Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Favorable Government Policies Promoting Bio-plastics

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 High Price and Other Disadvantages

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 By Raw Material

      1. 5.1.1 Corn

      2. 5.1.2 Cassava

      3. 5.1.3 Sugarcane and Sugar Beet

      4. 5.1.4 Other Raw Materials(molasses, potato, wheat)

    2. 5.2 By Form

      1. 5.2.1 Fiber

      2. 5.2.2 Films and Sheets

      3. 5.2.3 Coatings

      4. 5.2.4 Other Forms

    3. 5.3 By End-user Industry

      1. 5.3.1 Packaging

      2. 5.3.2 Medical

      3. 5.3.3 Electronics

      4. 5.3.4 Agriculture

      5. 5.3.5 Textiles

      6. 5.3.6 Other End-user Industries(construction, consumer goods)

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 CIS region

        6. 5.4.3.6 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 BEWiSynbra Group

      3. 6.4.3 Cofco

      4. 6.4.4 Danimer Scientific

      5. 6.4.5 Esun

      6. 6.4.6 Futerro

      7. 6.4.7 Jiangxi Keyuan Bio-Material Co. Ltd

      8. 6.4.8 Musashino Chemical Laboratory Ltd

      9. 6.4.9 NatureWorks LLC

      10. 6.4.10 Polysciences Inc.

      11. 6.4.11 Shanghai Tong Jie Liang Biomaterials Co. Ltd

      12. 6.4.12 Sulzer Ltd

      13. 6.4.13 Weforyou

      14. 6.4.14 Total Corbion PLA

      15. 6.4.15 Zhejiang Hisun Biomaterials Co. Ltd

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Emerging Applications in Food Packaging

    2. 7.2 Growing Applications for 3D-printed PLA

**Subject to Availability
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Bio-polylactic Acid (PLA) Market Research FAQs

The Bio-polylactic Acid (PLA) Market is studied from 2018 - 2028.

The Bio-polylactic Acid (PLA) Market is growing at a CAGR of <15% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

NatureWorks LLC, Sulzer Ltd, Total Corbion PLA, Futerro, Zhejiang Hisun Biomaterials Co. Ltd are the major companies operating in Bio-polylactic Acid (PLA) Market.

Bio-polylactic Acid (PLA) Industry Report

Statistics for the 2023 Bio-polylactic Acid (PLA) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Bio-polylactic Acid (PLA) analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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